NY sports betting

As the New York betting market continues to grow, more and more NY sports betting sites are set to be approved in the Empire State. So, how will you know which sites offer the best odds, deals, and offerings? We’ve got you covered. Keep reading to learn about the top four operators currently operating in New York.

BetMGM sports betting

BetMGM is a giant in the online betting industry born from a merger between MGM International and Entain Holdings. Although it’s only existed for around five years, BetMGM NY has quickly grown to become one of the premier offerings in the world with state-specific platforms in nearly every jurisdiction with legalized sports betting.

The operator has garnered a reputation for having wide-ranging betting lines, good odds, and a selection of regularly updated welcome offers. You can access their platform online or through their mobile platform to unlock a matched deposit currently worth up to $1,000.

Caesars online betting site

With a move that parallels MGM International, Caesar’s Palace launched its own online platform after acquiring long-time industry leader William Hill. With that move, though, the sports betting site set itself up as one of the largest of all time. With such clout, Caesars Sportsbook NY is able to offer nearly endless betting lines, well-informed odds, and some of the most lavish offers in the industry.

Although this NY sports betting site is no longer offering their historic $5,000 welcome offer, they are still granting new members a welcome worth up to $1,001. Make the most of this generosity before the Super Bowl and walk away quite a bit richer than before.

DraftKings sports gambling

You may remember seeing ads for DK back in the heyday of daily fantasy sports. Since then, DraftKings has reinvented itself into the most popular online betting site in the world. With soaring membership numbers, DraftKings is able to offer multiple extra offers at once, such as a 20% matched deposit for new members.

DraftKings New York is also well known for its tiered loyalty rewards program. The more you play, the more points you’ll earn and, as you rise through the tiers, you’ll unlock better perks, prizes, access to events, and even hard cash. Sign up today using their mobile platform or online to learn more.

FanDuel online sports betting

DK wasn’t the only daily fantasy sports site to transform itself. After the Supreme Court declared online sports betting legal, FanDuel took its existing platform and revamped it into a top-tier one with the best mobile platform in the industry. Today, FanDuel draws in millions of users across the globe both online and through their mobile platform.

Download the FanDuel New York platform from the Google Play Store or iOS Store to unlock a $1,000 risk-free bet. As with DraftKings, you can also sign up for the FanDuel loyalty rewards program to earn points and gain access to better odds, prizes, and more.

As the New York Gaming Commission approves more New York sports betting in the coming months, you’ll need to know what to look for. Not all NY sports betting sites have the same offerings, so be wary of registering with a subpar platform. Instead, only use sites that meet the following guidelines:

• Verified and legitimate site – Although the New York Gaming Commission is in the process of vetting and licensing new platforms, there are still opportunists looking to make a quick buck by scamming hopeful punters. Always be sure that you’re registering with a legitimate site that’s well-reviewed by outside sources. You can find a list of all NYGC approved sites at CBS sports.
• Strict encryption technology – Your privacy is paramount above all else. If you’re willing to share your private financial and personal data, you need to guarantee that your privacy is being safeguarded. Check the top corner of your search bar for a small padlock. This indicates that the operator uses encryption technology to protect your data. If it’s not there, leave the site and find a better option.
• Banking options that meet your needs – An online sports betting site is useless if you cannot deposit or withdraw funds from it. Always research a potential site’s available banking options before registering to save yourself time and effort. Most major sites accept payments through direct bank deposits, ACH eChecks, Visa/Mastercard payments, and digital e-wallets (find more on this further down)
• Competitive odds and lucrative offers– No matter what site you use, you should try to find the best odds possible. The better the odds, the more you’ll make if you win. The same goes for campaigns and offers. Better deals can greatly pad out your bankroll when big games are around the corner. Sign up with multiple sites to find all the best deals.
• Quality customer care and support services – Hopefully you’ll never have to contact customer support but, if the day ever comes, you’ll want a service that quickly resolves your problems. Some sites offer little more than an FAQ while others provide email addresses, phone numbers, and even live chat services. If you’re unsatisfied with customer support, go elsewhere.

These guidelines are only meant to help you eliminate the worst of the worst options. You’ll still need to explore each site individually to identify its strengths and weaknesses but these tips should help you avoid the duds.

What you need to know about New York online sports betting sites

When legislators proposed their idea to legalize New York online sports betting, they only had one thing in mind—money. New York’s economy had been ravaged by months of COVID closures and deaths, pressuring lawmakers to find new ways to bring in money. With that in mind, lawmakers imposed a massive tax floor on any operator willing to work in New York.

Currently, the New York Gaming Commission has only issued nine 10-year licenses with the caveat that operators must pay a $25 million licensing fee as well as a 51% tax on all their revenue. While this will amount to billions of dollars of income for New York State coffers, it means that operators will have to get creative to earn a profit.

Unfortunately, that creativity will fall on your shoulders. For now, it seems that New York online sports betting will offer less-than-prime odds to help recoup some of their losses. This means you’ll profit less on wins and your operator will take more in juice. However, as more operators enter the market, this will slowly adjust.

Currently, industry giants, such as Caesars, DraftKings, and BetMGM, are still able to offer fair odds, pushing smaller ones to meet the same demand. For now, it seems uncertain how this massive tax floor will affect the consumer but for now, don’t be surprised to find lower-than-expected odds in New York.

Are NY online sports betting sites playing fair?

It may sound fishy that NY online sports betting sites are manipulating their odds to recoup more profit but we can guarantee that they are still playing fair. When lawmakers went to bat to legalize online sports betting, they anticipated that platforms might adjust their odds so they debated whether or not to require sites to utilize league data.

Requiring online platforms to use league data gives sports leagues a stake in the business and also forces the betting site to incorporate insider statistics into their odds. In the final draft, lawmakers agreed that New York sports betting sites should utilize league data but that they can also use pre-vetted outsider information. Therefore, NY online sports betting is still operating within the law.

Once you’ve settled on your favorite NY betting site, the next step is to register and verify your account. Every site is a little different but you should expect to provide some basic personal information. This process shouldn’t take more than 10 minutes.

Before registering, we recommend preparing a few supporting documents in case the site asks for physical verification. Some sites can verify your data using public records but others prefer physical forms of identification. These could include:

• A government-issued photo ID – Most sites accept a passport, driver’s license, or military issued ID card
• Proof of residence – If the address on your photo ID doesn’t match the address you’ve provided, you may have to submit supporting proof of residence
• A valid email address – You’ll receive a confirmation email asking to verify your account after everything has been submitted and approved. We recommend registering with the mailing list to access better deals and prizes.

Along with this information, you must provide your full legal name, date of birth, and a telephone number where the operator can reach you. You must be at least 21 years old to bet on sports in New York and these supporting documents will verify that you are of legal age. After verifying your identity, you can then log in and access your account.

As soon as you’ve registered and logged into your account, you should deposit money into your bankroll to unlock a welcome offer. From there, you can then begin betting and winning on your favorite sports.

First, set up your account and head over to the ‘Banking Options’ tab. There, you’ll find everything you need to deposit and withdraw money from your bankroll. Some New York online betting sites only work with select banking options so be sure to use one that meets your needs.

These often include:

• Direct bank deposits – Just about every online operator accepts direct deposits but be warned that they’re often slow and inefficient. Many banks are unwilling to transfer funds to online betting sites so you may run into trouble if you try to send a direct deposit payment. Even if your bank is willing to send the money, it can often take 3 to 5 days just to post.
• ACH / VIP Preferred eChecks – ACH, or automatic clearing house, payments process through a third-party payment portal known as VIP Preferred. Funds are automatically transferred from your bank account in your bankroll, allowing you to start playing immediately. VIP Preferred is typically the best banking option for players wishing to send money from their bank.
• Visa/Mastercard payments – Nearly all sports betting sites accept Visa and Mastercard payments. Card payments typically post within a day but may run into the same banking regulations as direct bank deposits.
• PayPal – Using PayPal, you can make payments directly from a digital e-wallet without going through your bank. Store card information, bank details, or even cash online and then transfer funds directly into your account.
• Skrill – Skrill is another commonly used digital e-wallet originally developed for online gamers and gamblers. Skrill offers its users better security so you can play without worrying that your private financial data is being exposed.
• Play+ cards – Play+ cards act as substitutes for standard debit/credit cards. When you purchase a Play+ card, you’ll receive a digital code as well as a physical card that you can use to transfer funds to your account.
• PayNearMe – If you’d prefer to pay in cash, head to the nearest CVS, Walmart, or 7-Eleven and purchase a PayNearMe code. Simply hand over however much you want to deposit and they’ll give you a code to input on your platform. The money will then transfer and post within a couple of days.

These seven options are some of the most common banking options but they are not the only payment systems available online. Depending on which betting site you use, you may find additional options or that some of these are not available. Research the site ahead of time to guarantee that it has applicable banking options for you.

Additionally, read the terms and conditions before settling on one particular banking option. Many online betting sites only allow members to withdraw money through an option they’ve used before. This complicates things because not all payment methods are acceptable for withdrawals. Considering that withdrawals already take longer than deposits, you don’t want to end up waiting for your money.

Making your first deposit should unlock a welcome offer. Use it to boost your first bet or pad out your bankroll. Every site has different deals and these deals typically change from month to month but you should be able to find what’s on offer before you register. Learn more about NY sports betting promos here.

Most of them will offer one of the following types of offerings:

Matched deposit offer

Matched deposit are based on the amount of money you initially deposit into your bankroll. After your funds are posted, the platform will then match your money up to a certain point. Currently, most major platforms are willing to match up to $1,000, but this comes with a few caveats:

1. The deposit match will be set at a certain percentage, usually either 20%, 50%, or occasionally a full 100%. For example, if you unlock a 20% deposit match, you’ll earn $200 from a $1,000 deposit. If you deposit more, though, you’ll earn extra cash from your offer, up to the set point.
2. Deposit match come with strict playthrough requirements. Don’t expect to deposit money to your account, earn a deposit match, and then walk away with the extra cash. You’ll have to play through a certain number of bets or a portion of the money before you can withdraw it.
3. Deposit match are typically time-limited. If you don’t use the funds within a few weeks, you could lose your top up.

Avoid any confusion by reading the terms and conditions ahead of time and follow the playthrough regulations closely.

Risk-free vs. free bets

If you don’t unlock a matched deposit offer, you’ll likely earn either a risk-free or free bet. Although they sound the same, they are completely different offerings and can greatly affect how you play.

If you unlock a risk-free bet, you’ll have the chance to wager money without losing your stake. This way, if you lose the bet, you can walk away without losing a penny. If you win, you get to keep all of the profit. Be careful using these ones, though. Rather than wasting them on longshot bets, play wisely and you’ll stand a better chance of earning a profit.

Free bets provide the stake for you, allowing you to bet without risking your own money. The size of the free bet will likely be in proportion to however much you initially deposited but, if you win, you won’t get to keep the stake. You’ll simply earn the profit from the bet. If you lose, nothing will be deducted from your bankroll.

No-deposit offers

No-deposit offers are the only truly free one. If your operator offers no-deposit offer, you’ll find a small amount of money in your bankroll as soon as you verify your account. Think of it as a thank you for registering and using your platform’s services. It won’t be much but it’s still enough to win an additional bet or two.

Other campaigns and perks

Registration isn’t the only time you’ll earn extra bets and cash. The more you play, the more rewards you’ll unlock, especially if you sign up with the mailing list and follow them on social media. Many sites publicize their rewards to keep you coming back so don’t miss out on great deals.

Other common ones include:

• Boosted odds
• Free bets
• Reduced juice
• Refer-a-friend reward

Another way to earn better rewards and deals is to register with your operator’s loyalty rewards program. Sites like DraftKings and FanDuel operate multi-tier membership rewards programs that award points for every dollar you spend. As you earn more points, you move up the tiers and gain access to better deals, offers, prizes, and events.

After familiarizing yourself with the offerings, take some time to develop a betting strategy. A solid strategy should incorporate a variety of bets and cover more than just your favorite teams. If you want to win big, branch out and work some of these bets into your gameplay:

Money line bets

A money line bet is likely what you imagine when you think of betting—pick who you expect to win and place some money on it. These bets are straightforward and ideal for anyone new to sports betting but, as you become more experienced, we recommend branching out.

Money line bets use simple positive and negative signs to show odds. The more negative a team is, the more likely it is to win. The more positive the odds, the less likely the team is to win. Betting on underdogs pays out larger profits if they score a victory but it also comes with greater risk.

For example, if the New York Giants have -120 odds to win, you would have to bet at least $120 to walk away with a $100 profit. However, if the Miami Dolphins have +240 odds to win, you’d only have to bet $24 to win a $100 profit. They’d be less likely to win but if they did, you’d earn a greater reward.

Over/under bets

You may see over/under bets listed as totals bets because they allow you to bet on the total combined score for a game. Your chosen one will preset an expected point value based on the two teams’ prior histories and you simply wager whether they’ll cross or come short of the line. If the total score hits the line, you’ll get your money back.

It’s best to place over/under bets on sports that quickly rack up large point values, such as NBA basketball or NFL football. A single field goal could push an NFL game past the line, earning you big bucks. Best of all, you don’t have to bet against your favorite teams by placing over/under bets. Simply play your wager and relax while you watch the game.

Parlay bets

Parlay bets are best left to experienced bettors with a deep knowledge of the sport and the teams. Parlay bets build across multiple games, slowly compounding your profits into larger and larger wins. By parlaying, you’re betting on the longevity of a team, expecting them to continue a winning streak.

If your team loses, though, you’ll forfeit all of your profits. For this reason, it’s best to follow your team as closely as possible so you know when to pull out. If a player is injured or benched for a match, it could ruin your strategy and cause you to lose if you’re not careful.

Futures bets

Futures bets are not for the faint of heart. Like parlays, futures bets play out across multiple games, championships, or even seasons. They work by placing a wager on a particular player or team far in advance and as they progress through the season, the odds of them continuing become slimmer and slimmer. If they make it to the finals, you’ll walk away with a massive profit.

If you want to take a risk on futures bets, we recommend saving them for major events such as the Super Bowl or NBA championships. Additionally, start small because futures bets are arguably the riskiest of all bets.

Sports gambling is nothing new to the Empire State. Back in 2013, Governor Andrew Cuomo signed into law a provision allowing punters to bet on sports at on-site locations and casinos. Yet, it wasn’t until 2021 that New Yorkers were able to place those same wagers using online sports betting sites. So, why the delay?

For nearly 30 years, Americans had been barred from placing online sports bets under the Professional and Amateur Sports Protection Act of 1992. This all changed in 2018 when the Supreme Court overruled the law, opening the market for online betting platforms in the US. Since then, state legislatures have been hard at work drafting new laws to legalize online sports betting.

In New York, State Senator Joseph Addabbo and Assembly Member J. Gary Pretlow presented the argument that online sports betting would provide billions of dollars of revenue to an economy ravaged by consecutive COVID shutdowns. After a couple of years of bargaining, the state government finally presented Governor Cuomo with a finalized bill legalizing online betting, which he signed into effect in April 2021